BLUE STATE BLUES: State Farm seeking 30% rate hike for CA homeowners.

Many California homeowners are concerned about their home insurance, and that anxiety ratcheted up on Friday when State Farm requested one of its biggest rate increases ever, a sign they may be struggling financially.

“It’s critical to understand that nothing changes today for State Farm policyholders, said Michael Soller, spokesperson for the California Department of Insurance.

State Farm is asking for a 30% rate increase next year on the heels of a recent rate hike of almost 20% as they dropped many policyholders.

They are the largest residential homeowners insurers in California, insuring 1 in 5 homes.

And the insurance company is requesting a 52% increase for renters and 36% for condo owners, according to The San Francisco Chronicle.

It’s been years and years since the median California income would buy a median California home and today’s news will just squeeze the middle class — or what’s left of it — that much harder.